Zacks: Eagle Bulk Shipping Inc (EGLE) Given Average Recommendation of “Strong Buy” by Analysts
Eagle Bulk Shipping Inc (NASDAQ:EGLE) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price objective of $7.00 for the company and are forecasting that the company will post ($0.22) EPS for the current quarter, according to Zacks. Zacks has also given Eagle Bulk Shipping an industry rank of 144 out of 265 based on the ratings given to its competitors.
A number of research analysts recently issued reports on the stock. Seaport Global Securities reiterated a “buy” rating and issued a $7.00 target price on shares of Eagle Bulk Shipping in a research note on Thursday, March 9th. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Friday, March 24th.
Shares of Eagle Bulk Shipping (NASDAQ:EGLE) traded up 5.38% during mid-day trading on Tuesday, hitting $5.09. 263,105 shares of the stock traded hands. The stock has a 50-day moving average of $5.49 and a 200-day moving average of $5.73. Eagle Bulk Shipping has a 52 week low of $4.06 and a 52 week high of $21.80.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Thursday, March 30th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.15. Eagle Bulk Shipping had a negative net margin of 148.42% and a negative return on equity of 29.84%. The firm earned $41.84 million during the quarter, compared to analyst estimates of $30.04 million. On average, analysts predict that Eagle Bulk Shipping will post ($0.80) earnings per share for the current year.
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Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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